PFG Advisors Has $2.69 Million Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

PFG Advisors boosted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 35.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,891 shares of the industrial products company's stock after purchasing an additional 2,602 shares during the quarter. PFG Advisors' holdings in Eaton were worth $2,689,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its holdings in Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after acquiring an additional 37 shares in the last quarter. Lantern Wealth Advisors LLC raised its position in shares of Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after purchasing an additional 38 shares during the period. AGH Wealth Advisors LLC lifted its holdings in shares of Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after purchasing an additional 38 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after purchasing an additional 38 shares during the period. Finally, Tritonpoint Wealth LLC increased its stake in Eaton by 3.9% during the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of Eaton stock traded up $7.39 during trading on Friday, hitting $392.29. 2,106,513 shares of the stock were exchanged, compared to its average volume of 2,016,849. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $393.07. The stock has a market capitalization of $153.50 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 2.96 and a beta of 1.17. The company has a fifty day moving average price of $344.57 and a 200-day moving average price of $316.02. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is 41.98%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. Wells Fargo & Company upped their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Citigroup boosted their price objective on shares of Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Barclays increased their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $377.89.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.